Real Estate

Our market leading Real Estate practice is led by Helen Alexiou and Constantine Alexiou, two of the most respected lawyers in the Greek Real Estate market. Alexandros Kosmopoulos adds strong expertise in finance related matters.

The team is universally recognised for its comprehensive advice on the full range of real estate transactions and is widely known in the market for its in-depth knowledge of the sector and for offering a creative approach to all kinds of real estate projects, no matter their size or complexity. The team has worked on some of the most complex real estate projects in Greece in the past decade.

Our team is well-equipped to advise on highly technical matters such as zoning, planning, regulatory and environmental matters, development parameters and licensing, and has strong experience over all asset categories. It provides a comprehensive range of services to the Greek market, including asset acquisitions and divestments, development and redevelopment, concessions, and real estate finance.

We work with property developers, contractors, financial and strategic investors, lenders, governmental agencies, corporates, and “high-net worth” individuals - both domestic and international.

• AKL has a uniquely close association with the €8 billion Hellinikon project, being the only firm with continuous involvement from the very beginning in 2012, and the only firm trusted by all stakeholders to assist both the sponsors and the lenders. Hellinikon has been the flagship transaction of the Greek privatisations programme and relates to the development of the greater site of the former Athens international airport, a total area of 6,200,000 sq.m., all situated within the Athens metropolitan area. Hellinikon is said to be the largest real estate development project currently active in Europe. AKL’s ongoing work on the Hellinikon project has included supporting the sponsor with its winning bid, assisting with the negotiation of transaction documentation, advising on the project master plan, planning, zoning and licensing issues.
• AKL is advising the sponsor of a greenfield luxury resort development, on all aspects of its investment, including obtaining “strategic investment” status, completing the project master plan and environmental approvals.
• AKL is advising the developer and owner of the largest commercial building in Greece on the rectification of its permitting and licensing status (including all steps to have approved a special spatial plan and associated urban planning regulations) in compliance with the requirements set out in the relevant Supreme Administrative Court ruling.
• AKL advised a leading developer on the extension of a luxury mall in Athens, which includes an experience centre and a museum in addition to retail areas.
• AKL advised a consortium of an EU AIFM on its arrangements with a Greek REIC to pursue the acquisition of real estate assets in Greece.
• AKL advised an international investor on a series of construction management and asset management agreements in respect of its real estate investment SPVs.
• AKL advised on financings for the development and/or acquisition of real estate assets in excess of €500 million in 2020.
• AKL advised various non-EU investors on the acquisition of Greek assets, including luxury homes, investment properties, and properties acquired under the Greek Golden Visa programme.

Legal 500 2020:

"The Team reflects one the most high-quality expertise in the Greek legal market, especially in a field governed by a multitude of legal sources and interpenetrations of legal systems. Facing every project as a whole, the practice is based on the interconnection and the availability of all Partners."

"We are impressed by our long-term cooperation with Alexiou & Kosmopoulos Law Firm for their direct and prompt responsiveness and feedback. The whole team is always short-time effective and we strongly recommend them for commercial, urban planning, administrative and tax law advice."

"Alexiou & Kosmopoulos is accustomed to encountering situations requiring documentation or advice having a high level of complexity or novelty to suit the particular circumstances of the organizations involved and address transaction requirements."

"Always working with us and not for us as part of the same team with commitment that can be found only in the best in-house legal teams and not to external advisors."

"Always available, approachable. Never provide advice without having thoroughly examined all aspects of the potential problem."

Chambers 2020:

What the team is known for is that it maintains a stellar reputation for its advice on all areas of real estate law. Particularly well known for its work in real estate M&A and financing. Also noted for its expertise in real estate disputes. Represents prominent players in the market, including developers, REICs, lenders and government agencies. Assists with a range of mandates connected to development projects, including planning, zoning and environmental issues. Additionally well-versed in tender processes. Experienced handling residential, commercial and hospitality real estate assets.

A client values the team's "in-depth knowledge of the Greek market and immediate responses."

Another interviewee recommends the firm for its "diligence and ability to focus on solutions."